Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Perkins County | Nebraska Avg | US Average |
|---|---|---|---|
| Median Home Price | $39,166 | $167,658 | $242,182 |
| Price Trend (Annual %) | 4.4% | 8.2% | 8.2% |
| Median Gross Rent | $783 | $1,035 | $1,342 |
| Rent Trend (Annual %) | 2.7% | 4.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Perkins County is about 77% lower than in Nebraska. Rent is about 24% lower than the Nebraska average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Perkins County, up about 4.4% and 2.7% a year respectively. Home prices are changing faster.
Median rent in Perkins County rose about 20.4% between 2015 and 2023, from $650 to $783. Over the same span, rent in Nebraska rose about 42.6%.
Affordability
On average, housing unit costs 0.6 yearly household incomes in Perkins County.
Buying the median-priced home in Perkins County costs roughly 4.2 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Perkins County. The price-to-rent ratio in Nebraska is about 13.5.
| Metric | Perkins County | Nebraska Avg | US Average |
|---|---|---|---|
| Median Home Price | $39,166 | $167,658 | $242,182 |
| Median Household Income | $68,689 | $74,987 | $78,145 |
| Price-to-Income Ratio | 0.6 | 2.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Perkins County fell about 11.2%, while median household income rose about 49.1% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Perkins County | Nebraska Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.7% | 61.2% | 58.2% |
| Rental Rate | 19.1% | 30.8% | 31.3% |
| Vacancy Rate | 14.1% | 8.0% | 10.6% |
| Median Tenure (years) | 18.0 | 14.0 | 15.0 |
| Median Year Moved In | 2008 | 2012 | 2011 |
Perkins County has a homeownership rate of 66.7%, higher than the Nebraska average of 61.2%. Its housing vacancy rate is 14.1%, compared with 8.0% in Nebraska.
Housing Stock
| Metric | Perkins County | Nebraska Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.41 people | 2.43 people | 2.54 people |
| Median Structure Built Year | 1956 | 1973 | 1978 |
| Median Number of Rooms | 6.1 | 6.1 | 5.5 |
The typical housing unit in Perkins County was built around 1956. On average, 2.4 people live in a home with about 6.1 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Perkins County, Nebraska.
What is the median home price in Perkins County, Nebraska?
The median home price in Perkins County, Nebraska is $39,166, lower than the Nebraska average of $167,658.
What is the average home price in Perkins County, Nebraska?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Perkins County, Nebraska?
The median gross rent in Perkins County, Nebraska is $783 per month, lower than the Nebraska average of $1,035.
What was the median gross rent in Perkins County in 2020?
In 2020, the median gross rent in Perkins County, Nebraska was $712 per month.
What is the price-to-rent ratio in Perkins County, Nebraska?
The price-to-rent ratio in Perkins County, Nebraska is about 4.2, meaning it would take roughly 4.2 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Perkins County.
Are home prices or rent rising faster in Perkins County, Nebraska?
Both home prices and rent are rising in Perkins County, up about 4.4% and 2.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Perkins County, Nebraska?
66.7% of households in Perkins County, Nebraska own their home, higher than the Nebraska average of 61.2%.
What is the vacancy rate in Perkins County, Nebraska?
The housing vacancy rate in Perkins County, Nebraska is 14.1%, higher than the Nebraska average of 8.0%.